Clipped wings

2 December 2020 By Liam Proud Follow @liamwardproud

CEO Masayoshi Son will ditch an unpopular options strategy, Bloomberg reported, only months after launching it. That’ll please investors who want the Japanese group to focus on asset sales and share buybacks. Their next target should be his $17 bln portfolio of technology stocks.

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SoftBank Group is winding down its derivatives-trading strategy after an investor backlash, Bloomberg reported on Dec. 2, citing people familiar with the matter.

The company will keep its portfolio of large technology stocks, which as of Sept. 30 included Amazon.com, Alphabet, Zoom Video Communications, Facebook and others.

SoftBank shares were down 0.6% to 7,255 yen when Japanese markets closed on Dec. 2, compared with a 0.8% decline for Hong Kong-listed shares in its main investment, Alibaba.

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